CBRE Announces Sale of Mixed-Use Residential, Office and Retail Property in Downtown Temecula, Calif. for $8.8 Million
2020 2월 04
Los Angeles - CBRE announced the sale of Front Street Plaza, a mixed-use residential and commercial property Temecula, Calif. for $8.8 million to a private investor.
Located at 28693 Old Town Front Street, Front Street Plaza sits in the heart of the city. The property, completed in 2014, consists of 25 apartments, 18 executive office suites and one penthouse open-air bar and restaurant, as well as two ground-level restaurants, including a speakeasy.
“The property is ideally located in Downtown Temecula,” said Carlson. “It stands out, and with its affordability housing component is much liked by the City. Temecula has established itself as a popular destination, which naturally created a lot of interest in this unique opportunity.”
Front Street Plaza offers 13 one-bedroom, one-bath units and two-bedroom, one-bath and 10 two-bedroom, two-bath apartments. The property’s executive suites offices are fully leased and filled with such tenants as Realty Sky, California Lemon Lawyers, Edward Jones, Churchill Mortgage, among others. The three restaurants are Luke’s, Tabu Sushi Bar & Grill, and Devilicious Eatery & Tap Room, which received Press Enterprise’s 2015 Best of the Inland Empire for Best New Restaurant and Inland Empire Magazine’s 2016 The Best of the Inland Empire for The Best Place to Pick Up a Sandwich.
The CBRE team also represented the seller, Front Street Plaza Partners, LLC, in the transaction.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.